If your hospitality business struggles to retain workers or fill vacancies, there could be further struggles ahead. By 2020 almost 1/3 of the UK workforce will be over the age of 50. A FREE report by the Institute of Hospitality can help you prepare.
Consider the following facts which will affect hospitality businesses:
- There will be a significant decline in the number of younger workers – the traditional age cohort recruited in the Hospitality sector
- There will be a decline in the number of workers aged 35-44 – the main ‘management’ cohort in hospitality
- There will be a large increase in the number of 50+ year olds – both as potential customers (‘grey’ market) and employees for the Hospitality sector.
- Labour shortages in younger age groups could be exacerbated by immigration restrictions which may limit access to labour in key sectors, e.g. chefs in Indian/Chinese/Thai restaurants, and increased competition for ‘young’ European labour as the sector expands internationally.
The Institute’s involvement in the Extending Working Lives project following the repeal of the mandatory default retirement age in 2011 resulted in an insightful report called “The case for recruiting and retaining older workers: a business imperative for the Hospitality sector“. The report details why – and more importantly – how hospitality businesses can effectively recruit, train and employ older workers, including those over the age of 65.
If you would like to obtain a FREE copy of this report, email: firstname.lastname@example.org and ask for the FREE EWL report.